The Federation of Thai Industries (FTI) has called on the government to redesign the domestic oil price structure to better deal with the impact of soaring global oil prices.
It did not elaborate what changes energy officials should make to create a new price structure but urged the policymaker to carefully weigh its budget constraints against the cost of living.
The government must make sure it can manage to relieve its burden and reduce the people’s burden at the same time, said Kriengkrai Thiennukul, vice-chairman of the FTI.
The right solution is required as there are fears the global oil price will continue to soar after its rapid rise toward US$130 a barrel earlier this week, following reports that the US is considering imposing sanctions on oil exports from Russia.
Russia is one of the world’s leading oil exporters,…
